Asia Pacific’s luxury hotel group, Shangri-La Hotels and resorts, is all set to launch its second property in India after Shangri-La Eros in New Delhi.
Movenpick Hotels & Resorts is set to launch its first property in India, the Movenpick Hotel & Spa Bangalore, which will have soft opening on June 1, 2011.
Patel Realty India Ltd plans to launch 3-3.5 million sq ft of projects valued around Rs.300 crore during the present financial year across the country.
Pune-based Phadnis Group is planning to invest Rs.800 crore in diverse sectors including real estate, hospitality and infrastructure in the next three years.
JP Morgan has invested $30 million in Parsvnath Developers’ residential project La Tropicana coming up in the Civil Lines area of New Delhi.
Supertech Limited plans to expand its geographical presence before filing DRHP with market regulator SEBI for its IPO in around a year’s time.
India’s top listed real estate developer DLF Ltd missed analysts’ estimates with a 19 percent fall in quarterly profit due to cost rises.
DLF plans to raise Rs.7,000 crore in the next two to three years from the sale of non-core assets to reduce its net debt of Rs.21,424 crore.
DLF Ltd will focus on plotted development in the short term in a bid to weather the blow from rising inflation and input costs.
DLF Ltd has reported a marginal drop of 4.8% in its net profit for the year ending 31 March 2011.